Practice Problem for Forecasting Errors Two different forecasting techniques (Method 1 and Method 2) were used to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are as follows: 45 Period Demand Method 1 Method 2 50 551 991 2 55 78 3 50 65 561 4 56 66 67 71 61 71 6 68 721 671 7 66 70 691 8 60 86 58 5 a. Compute MAD for each set of forecasts. Given your results, which forecast appears to be more accurate? b. Compute the MSE for each set of forecasts. Given your results, which forecast appears to be more accurate